What is Sweet Million Lotto
Sweet Million Lotto is a highly popular lotto, run by state of New York. Sweet Million derives its name from the fact that it always pays out a flat jackpot of $1,000,000. It offers the best odds to win the jackpot out of all of the lotteries offered by the state of New York.
The New York State Lottery set up Sweet Millions in 2009 with the express goal of ensuring proceeds were appropriately distributed to delegated educational funds.
Playing Sweet Million Lotto is as easy as picking six numbers out of a 1-40 guess range. Tickets cost $1 each. If there are five or more jackpot winners in the same draw, the winners divide $5,000,000 between them; however to date there have only been two concurrent jackpot winners in a given drawing. In the case that less than five jackpot winners in the same draw, the $1,000,000 is split among them. Sweet Millions lottery minimum payout is $3, paid when three out of six numbers are picked. Four matching numbers pays out $40, while 5 matching numbers gives $500.
Sweet Million lotto offers twice weekly draws, on Monday and Thursday nights. Draw times are at 21:30 Eastern Standard Time (EST).
Overall, the odds to win at the Sweet Million lottery start at 46.8%.
Sweet Millions constantly pays out a jackpots totaling $1,000,000, making the amount both the minimum and maximum jackpot.
Claims and Taxes
Jackpot winnings are paid out in lump sums, with all prizes above $250,000 paid out at the New York State Lottery headquarters. Starting at $500 and up, US residents pay 25% tax. Non-US residents pay 30% on all winnings.